Exam 2: Developing Marketing Strategies and Plans

Activities involved in building deeper understanding of existing consumers and what the product offerings mean to them would be a part of the ________ process.

Holistic marketing focuses on the integration of value exploration, value creation, and value delivery as a means to build long-term relationships with consumers.

A written document that summarizes what the marketer has learned about the marketplace and indicates how the firm plans to reach its marketing objectives is called a vision statement.

Most marketing plans conclude with a section that indicates how the plan will be implemented.

Marketing goods that are currently in short supply would require significant marketing talent.

Competitors in a given industry can be identified by the similarities in their core competencies.

The marketing strategy section of the marketing plan spells out goals and budgets for each month or quarter so the management can review each period's results and take corrective action as needed.

The traditional view of marketing is that the firm makes something and then sells it.

Which of the following is one of the five major characteristics of good mission statements?

Qantas, the Australian national airline carrier, introduces flights to the Middle East. This is an example of ________.

A firm employing a focus strategy concentrates on achieving superior performance in an important customer benefit area valued by a large part of the market.

Definitions of a firm's mission as well as its marketing and financial objectives are included in the marketing strategy section of the marketing plan.

Identify and give examples of the four major categories of strategic alliances.

Indicate the differences and similarities between the following terms: marketing plan, strategic marketing plan, and tactical marketing plan.

Which financial projections include three estimates (optimistic, pessimistic, and most likely)?

When Yahoo! began to flounder in 2001, CEO Terry Semel imposed a more conservative atmosphere on the freewheeling Internet start-up. At the new Yahoo!, spontaneity is out and order is in. Identify this organizational phenomenon.

Critics of Nike often complain that its shoes cost almost nothing to make, yet are priced so high. Identify the elements of providing and communicating value that add to Nike's cost structure and result in the high price of Nike shoes.

A strategic-planning gap can be corrected by ________.

The task of any business is to ________.

The firm's success depends not only on how well each department performs its work, but also on how well the various departmental activities are coordinated to conduct core business processes. List and briefly describe the five core business processes.